Would a tax credit of up to $14,000 per employee help your bottom line in 2021? What if you could go back to 2020 and recover an additional $5,000 tax credit for each employee? That may be possible for companies that are eligible for an Employee Retention Tax Credit (ERTC).
The ERTC was an original provision of last year’s CARES Act and has since been extended and expanded for the first two quarters of this year. That extension and expansion also includes a “look back” provision that may allow companies which were not eligible for an ERTC in 2020 because they had a PPP loan, to go back and claim the previously proscribed tax credit.
Gray, Gray & Gray will be hosting a free webinar to help businesses explore reasons why you may want to apply for and manage ERTC, including balancing ERTC with PPP loans. Join Gray, Gray & Gray Leaders Jim DeLeo, Kelly Berardi, Brad Carlson and Derek Rawls as they answer your questions about the ERTC program, including:
- Who is eligible for an Employee Retention Tax Credit?
- How can you apply?
- What if my PPP loan has been forgiven?
- What documentation do I need to provide?
- When is the credit issued? Can I take it as an advance?
- How should you balance a PPP loan and ERTC?
The ERTC is currently available only through the first two quarters of 2021. Now is the time to learn from the experts how your business can take advantage of the ERTC.
Space is limited. Be sure to register early by clicking the button below!